Insider Selling: Snap (NYSE:SNAP) CAO Sells $93,682.40 in Stock

Snap Inc. (NYSE:SNAP) CAO Rebecca Morrow sold 16,729 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.60, for a total value of $93,682.40. Following the completion of the transaction, the chief accounting officer directly owned 512,811 shares of the company’s stock, valued at $2,871,741.60. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rebecca Morrow also recently made the following trade(s):

• On Tuesday, May 19th, Rebecca Morrow sold 3,570 shares of Snap stock. The shares were sold at an average price of $5.74, for a total value of $20,491.80.
• On Thursday, February 19th, Rebecca Morrow sold 3,175 shares of Snap stock. The shares were sold at an average price of $4.84, for a total value of $15,367.00.

Snap Stock Performance

NYSE SNAP opened at $5.72 on Friday. Snap Inc. has a 1-year low of $3.81 and a 1-year high of $10.41. The company has a market capitalization of $9.65 billion, a P/E ratio of -23.81 and a beta of 1.05. The business has a 50 day moving average price of $5.25 and a 200 day moving average price of $6.42. The company has a debt-to-equity ratio of 1.67, a current ratio of 3.53 and a quick ratio of 3.53.

Snap (NYSE:SNAP) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts expect that Snap Inc. will post -0.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on SNAP. Freedom Capital downgraded Snap from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Citigroup reaffirmed a “neutral” rating on shares of Snap in a research note on Monday. Rothschild & Co Redburn upgraded Snap from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Monday, April 27th. Wall Street Zen cut Snap from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, BNP Paribas Exane cut Snap to a “neutral” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average target price of $7.91.

Institutional Investors Weigh In On Snap

Large investors have recently bought and sold shares of the stock. Allworth Financial LP boosted its holdings in shares of Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after purchasing an additional 1,581 shares during the last quarter. Oak Harvest Investment Services purchased a new stake in shares of Snap in the fourth quarter valued at $26,000. Arax Advisory Partners increased its stake in Snap by 220.0% in the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after purchasing an additional 2,275 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Snap in the fourth quarter valued at $29,000. Finally, EverSource Wealth Advisors LLC increased its stake in Snap by 561.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after purchasing an additional 3,071 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.